Hyderabad: NSL Sugars, a part of Hyderabad based NSL Group, announced today that its Mahbubnagar Plant, Krishnaveni Sugars, has commenced operations. It is an integrated Sugar, Co-generation power and Fuel grade ethanol project set up at Kothakota Mandal of Mahbubnagar district in Andhra Pradesh.

NSL invested Rs. 350 crore to build the integrated sugar complex. The overall cost of the project has been funded through a mix of internal accruals and debt. The plant consists of 3500 Tonnes crushing per day (TCD) sugar unit besides 28 MW Cogen power plant and 45 Kilo liters per day (KLPD) capacity Fuel Grade Ethanol plant. NSL has plans to expand the sugar unit capacity to 5000 TCD in near future.

Mr. Mandava Prabhakar Rao, Chairman, NSL Group, stated “Our humble beginning in sugar business in 2003 has made us one of the biggest players in south India today. This Greenfield project is the stepping stone for us to realize our vision to become a major player in the country. Since our sugar business vertical has already been well established in Karnataka, Mahbubnagar plant will help us expand into Andhra Pradesh significantly besides increasing our market share in other states. We are expecting the turnover of our sugar business to touch Rs. 550 crore this year.”

Mr. Hari Vallurupalli, Joint Managing Director, NSL Sugars Limited, said “The state-of-the-art plant with Mill Max crushers and Raw sugar process equipment is one of India’s most modern sugar plants. This project would enrich the commanding area by the cultivation of commercial crops like sugarcane in 20,000 acres. The project has infused new life and will bring in major change in the socio-economic development of the region engulfing the location of the plant. Krishnaveni Sugars will also generate direct employment to 500 people and indirect employment to thousands of farmers in surrounding area.”

NSL has a comprehensive cane development program to plant, grow, cultivate, and purchase of sugarcane. The plant has an adjoining self contained township for the employees, with staff accommodation, first aid centre and other amenities.

NSL Sugars already has three of its plants operating in Karnataka with a total sugar cane capacity of 9000 TCD. Krishnaveni Sugars is the first plant, which has been set up in Andhra Pradesh.